Live by the beach in Bondi for $400,000, with just one catch

If you’ve always dreamt of owning your own place in Bondi but shuddered at the price tags, there could be a solution in reach. Though the housewarming might be a bit cramped.

Worth well under half a million dollars each, two studio apartments from the same building have hit the market a stone’s throw from the beach.

Considering the median house price in Bondi is $2,047,000 and the median unit price is $915,000, according to the latest Domain Group data, both these apartments are practically a steal.

The apartment comes with access to a rooftop pool with views of Bondi Beach. Photo: LJ Hooker

However, there is one catch: they are both the size of two car spots.

Within walking distance from Bondi Beach, close to Bondi Junction and with a shared rooftop pool that boasts views of the beach and the Harbour Bridge, both agents say their 30-square-metre apartments are great value for investors or owner-occupiers.

LJ Hooker agent Kiel Glass, who is selling 808/212 Bondi Road, Bondi said buyers could move in straight away if they wanted, but there’s also scope to update it. And with a price guide of $430,000, he thinks it’s a great opportunity.

However, there’s not much space in the 30-square-metre unit. Photo: LJ Hooker

“It’s a decent space with a good outlook which is quite rare in Bondi.”

803/212 Bondi Road, Bondi has a renovated kitchen, but is a mirror image of apartment number 808. Photo: Ray White

Number 803, which has a renovated kitchen, has a price guide of $400,000.

While both units are 30 square metres, this does include the undercover balcony – making the actual indoor living space smaller than two car spots.

However, Ferrari recommended installing a fold-up bed to make the apartment feel more spacious.

The apartment building at 212 Bondi Road has recently been updated. Photo: Ray White

The secure apartment building has been updated in the past five years, and has lift access as well as the roof top pool.

Both agents said they’ve had interest from investors as well as owner occupiers.

Glass says it’s great for either type of buyer, as investors would achieve great rental returns but it’s also a very affordable place for an owner-occupier.

While the balconies are included in the apartment size, they are undercover. Photo: Ray White

“It’s a good size and the apartment block itself is good. You can have peace of mind for good returns on the investment front, but if you’re looking to move in to a well maintained, affordable apartment it’s also great.”